The Toronto Regional Real Estate Board says home sales in July were up from last year but down from a month earlier, while listings jumped.
A person walks by a row of houses in Toronto on July 12, 2022. THE CANADIAN PRESS/Cole Burston
The board says there were 5,391 homes sold in July in the Greater Toronto Area, a 3.3 per cent rise compared with the 5,220 homes sold in the same month a year earlier.New listings totalled 16,296, up 18.5 per cent from last year. TRREB president Jennifer Pearce says the uptick in sales compared with last year is encouraging and a potential sign lower interest rates are starting to have an effect.
“The cost of borrowing is anticipated to decline further in the coming months. Expect sales to accelerate as buyers benefit from lower monthly mortgage payments.”
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